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Does Too Big To Fail = Too Big For Trial?

Monday, February 18, 2013 - 2:37 PM
That's the question that Senator Elizabeth Warren asked a panel of regulators in her first hearing as a member of the Senate Banking Committee.

From Consumerist: 
... Sen. Warren explained her stance that if banks reap billions of profits while breaking the law, then later settle and pay that settlement money out of those same profits, “they don’t have much incentive to follow the law.”

She also pointed out that when a trial is avoided, so is all the important, possibly revealing testimony that would have come out of that trial.

...Senator Warren closed out the issue with a statement that sums up how a lot of American consumers feel about the way banks are treated by our justice system and federal regulators:  “There are district attorneys and U.S. attorneys who are out there every day squeezing ordinary citizens, on sometimes very thin ground, and taking them to trial in order to ‘make an example,’ as they put it. I’m really concerned that ‘too big to fail’ has become ‘too big for trial’”

The Senator took a number of regulator A-listers to task.  The article includes a link to video of the hearing, with the Senator's questions about 110 minutes in.
3
pearlbrownpearlbrown1,438 posts since
Nov 2, 2010
Rep Points: 6,272
1. Monday, February 18, 2013 - 3:14 PM
“There are district attorneys and U.S. attorneys who are out there every day squeezing ordinary citizens, on sometimes very thin ground, and taking them to trial in order to ‘make an example,’ as they put it. I’m really concerned that ‘too big to fail’ has become ‘too big for trial’”

Two wrongs don't make a right. So she is saying let's **** bank executives (despite not having conclusive evidence of criminal intent) because ordinary citizens are getting ****ed everyday.

This is kind of rich with irony coming from a paragon of ethical probity who lied about her ancestral background to achieve an unfair advantage over others.

PS. I am no defender of the mega banks, as anyone who reads my posts would know. I am, however,  a fierce defender of our civil liberties. Stupidity and greed, the last I looked, is not a criminal violation of the law.
1
loulou544 posts since
Aug 3, 2010
Rep Points: 3,397
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